Partior, a fintech company known for its global, unified ledger-based interbank rails for real-time clearing and settlement, announced it has closed the first round of a more than $60 million Series B funding round led by Peak XV Partners, with participation from Valor Capital Group and Jump Trading Group as new investors.
Existing shareholders JP Morgan, Standard Chartered and Temasek will continue to support the company, along with founding shareholders DBS, JP Morgan, Standard Chartered and Temasek.
in fact, Party AllThe platform is used by DBS, JP Morgan and Standard Chartered to facilitate customer payments. Companies such as Siemens and iFAST Financial, through Standard Chartered, have benefited from the platform, achieving better access and management of working capital, consistent availability and faster, more seamless payment flows.
Traditional international payments face a variety of challenges, including delays, high costs, lack of transparency, multiple intermediaries, variable processing speeds and differing compliance standards between banks.
Similarly, inefficiencies in FX settlement remain due to reliance on legacy infrastructure and manual processes, limiting the real-time settlement of foreign exchange transactions. These inefficiencies increase operational costs and create risks such as delays and settlement failures.
Paltior claims that its global unified ledger allows financial market participants, including banks and payment service providers, to join its network for real-time cross-border, multi-currency settlement and clearing.
The platform’s 24/7 blockchain network is interoperable with real-time local currency settlement and RTGS systems around the world, facilitating direct and indirect payment flows with market participants.
Partior’s shared ledger is said to provide instant liquidity and transparency, overcoming the drawbacks associated with sequential processing in traditional payment systems.
The new funding round will support the advancement of new capabilities including intraday FX swaps, cross-currency repos, programmable corporate liquidity management and just-in-time multi-bank settlement.
This will also significantly facilitate the expansion of Partior’s international network and the integration of additional currencies into the network, including AED, AUD, BRL, CAD, CNH, GBP, JPY, MYR, QAR and SAR, in addition to the USD, EUR and SGD that Partior currently operates in.
be report With tightening regulations from the Bank for International Settlements (BIS), existing correspondent banking operations are struggling to adapt to new regulatory and supervisory requirements. Tokenization of correspondent banking could streamline pre-screening and atomic payments, leading to improved customer verification and anti-money laundering (AML) procedures.
Paltior says it is working to unify global liquidity by interconnecting its digital asset platform with its next-generation payments technology.
Humphrey Walenbrader
“Partior is breaking down silos and rewriting the rules of cross-border payments and clearing. We believe there is a very bright future for blockchain-based frictionless cross-border transactions. Having the world’s best banks and investors backing our vision is further evidence of this.”
Paltior CEO Humphrey Walenbrader said:
Shailendra Singh
“Paltior is an incredibly ambitious endeavor to transform international interbank payments and payments. It is a unique approach where multiple banks come together to drive change in the industry. We are excited to join DBS, JP Morgan, Standard Chartered and Temasek as co-shareholders in this effort.”
Shailendra Singh, Managing Director, Peak XV said:
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